Indian equities closed higher on Tuesday, buoyed by banking strength and broad-based buying. The benchmark Sensex added 173.81 points, or 0.21%, to end at 83,450.96. Meanwhile, the Nifty 50 index edged up 42.65 points, or 0.17%, finishing at 25,725.40.
The rally extended to broader markets, where midcaps and smallcaps shone brighter. Nifty Midcap 100 surged 0.37% or 224.90 points to 59,881.70, and Nifty Smallcap 100 jumped 0.56% or 95.80 points to 17,146.70. PSU banks emerged as the day’s heroes, injecting momentum into the indices.
Gainers dominated in key sectors like defence, IT, FMCG, media, consumer durables, automobiles, pharmaceuticals, PSEs, healthcare, infrastructure, and services. Laggards included metals, commodities, real estate, oil & gas, and financial services, which buckled under profit-taking.
Sensex top gainers were ITC, BEL, L&T, Infosys, Asian Paints, Titan, HCL Tech, Sun Pharma, IndiGo, SBI, TCS, Power Grid, and HDFC Bank. Losers comprised Eternal, Tata Steel, Trent, M&M, Bajaj Finserv, Bharti Airtel, Axis Bank, Kotak Mahindra Bank, and HUL.
According to Rupak De, Senior Technical Analyst at LKP Securities, Bank Nifty delivered a robust session, holding above its 50-day moving average. ‘RSI indicates building momentum, solidifying the uptrend,’ he observed.
Short-term prospects look bright, with De eyeing 62,200 as a realistic target. Support at 60,400 provides a buffer for dips. Markets started the day on a sour note, dipping early with Sensex at 83,098 (-0.21%) and Nifty at 25,572 (-0.31%) by late morning, before staging a smart rebound.
Overall, the day’s action reflects optimism in core sectors, with analysts watching for sustained banking momentum to propel further gains.